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HKEx completes acquisition of LME

By Press Release

December 6, 2012 • Reprints

Hong Kong Exchanges and Clearing Limited (HKEx) and LME Holdings Limited (LME Holdings), the parent company of The London Metal Exchange Limited (LME), are pleased to announce that the acquisition of the entire issued ordinary share capital of LME Holdings by HKEx has completed today. Completion was effected by the delivery of the relevant court orders to the Registrar of Companies for England and Wales.

The transaction brings together the leading operator of exchanges and clearing houses in Asia, with the world’s leading non-ferrous base metals trading venue.

Charles Li, Chief Executive of HKEx said, “We are delighted that, as of today, the LME is formally part of the HKEx group. We are confident that this partnership will deliver enormous benefits over time as we leverage our relationships and knowledge to build on LME’s strong global position.”

Martin Abbott, Chief Executive of the LME said, “The LME will remain the world’s foremost base metals exchange thanks to HKEx’s position in Asia, its infrastructure and resources. We begin a new chapter today but the LME is more secure than at any point in its 135-year history.”

LME Holdings Directorate Changes

As the Scheme is now effective, the following directors resigned from the Board of LME Holdings:

Stephen Branton-Speak, Jim Coupland, Gabriela Grillo, Noel Harwerth, James Land, Nat le Roux, Michael Overlander, Gavin Prentice, David Rough and Fabian Somerville-Cotton.

Martin Abbott and Sir Brian Bender (Chairman) remain as directors of LME Holdings.

Chow Chung Kong, Romnesh Lamba and Charles Li join the Board of LME Holdings.

LME Directorate Changes

As the Scheme is now effective, the following directors resigned from the Board of LME:

Stephen Branton-Speak, Catherine Claydon, Jim Coupland, Gabriela Grillo, Richard Laing, James Land, Mike Lockwood, Michael Overlander, Gavin Prentice and Fabian Somerville-Cotton.

Martin Abbott and Sir Brian Bender (Chairman) remain as directors of LME.

Chow Chung Kong, David Graham, John Harrison, Noel Harwerth, Romnesh Lamba, Nat le Roux and Charles Li join the Board of LME.

 

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Related Terms
lme 103HKEx 71John Harrison 43Charles Li 20Martin Abbott 19Hong Kong Exchanges and Clearing Limited 8mergers & acquisitions 6Michael Overlander 5David Graham 4Brian Bender 3David Rough 2Gabriela Grillo 2The London Metal Exchange Limited 1LME Holdings Limited 1Gavin Prentice 1James Land 1Richard Laing 1Catherine Claydon 1Mike Lockwood 1Chung Kong 1Stephen Branton-Speak 1Chow Chung Kong 1Nat le Roux 1Romnesh Lamba 1Fabian Somerville-Cotton 1Jim Coupland 1Noel Harwerth 1

Free Newsletter Modern Trader Follow

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  • FINalternatives
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